InvestorQ : Why did SAT strike down the SEBI order on Templeton Mutual Fund?
indhumathi Sayani made post

Why did SAT strike down the SEBI order on Templeton Mutual Fund?

Answer
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6 months ago
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That is not correct. SAT has not struck down the SEBI order but it has only provided interim relief to Franklin Templeton Mutual Fund. What SAT has done is that it has partly stayed the SEBI order. In fact, SAT stayed SEBI’s order banning Templeton from launching new debt schemes for 2 years and it also allowed Templeton MF to deposit just 50% of the direct disgorgement amount of Rs.512 crore upfront.

It needs to be noted that SAT has reserved its final order and has posted the matter for final disposal on 30-Aug. Franklin Templeton MF has to respond in 4 weeks and after that SEBI can file its response. However, SAT has picked holes in the SEBI order calling it arbitrary in a number of places.

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